Social VR platform Sensorium’s token SENSO saw a spike in retailer interest in August, according to data from CoinMarketCap.
As the global cryptocurrency market maintains rangebound momentum, the market has turned its attention to certain small-cap projects.Recent coin market cap data shows that the token is rich quack And SENSO surpassed the list of crypto tokens most added to CMC’s watchlist.
The changing trend in investor and trader interest highlights how projects like Sensorium are gaining traction despite macro bear trends dominating the cryptocurrency space.
What is a sensorium?
CMC data After RichQUACK, we emphasized that users were most interested in a project called Sensorium. This newly-gained retail interest has been replaced by some bullish developments in the price of the project’s native token SENSO.
Sensorium is a leading social VR platform founded in 2018 with the goal of “reimagining how people interact with each other and experience art in the digital world.” The company’s most notable project is Sensorium Galaxy, a digital metaverse aimed at providing virtual reality experiences.
Sensorium Galaxy is an alternate universe built in partnership with artists, producers and entertainment companies. Just a month ago, the company premiered an in-engine metaverse streaming channel on his Sensorium Galaxy metaverse, creating a lot of buzz among the community.
Since its inception, Sensorium has attracted more than $100 million in private investment, according to its website.
What is behind SENSO’s new star status?
The recent public expectations for SENSO and the subsequent price increase are most likely due to its recent ecosystem-focused development. air dropand growing retailer interest in the project.
The project is also actively collaborating with celebrities such as David Guetta, Steve Aoki, Jean-Michel Jarre, Dimitri Vegas and Like Mike. Star collaboration has further increased the social awareness of the project.
According to Google data, the Play Store app has over 100,000 downloads of the Sensorium Galaxy app with a user rating of 4.2. The number of downloads and decent customer reviews indicate a fair amount of public interest in the project.
Additionally, the SENSO token Twitter account has over 62,000 followers, while the Sensorium Galaxy page has 33,000 followers, further demonstrating a fairly strong community base.
What is the fate of SENSO?
The SENSO token is the in-platform currency of Sensorium Galaxy.that is ERC20 The token that drives all value transactions within the Galaxy. Public interest in the project increased, and in August he saw the price of SENSO skyrocket by nearly 30% of his.
At press time, the price of SENSO was hovering around $0.157471, down 0.98% on the daily chart. His 24-hour trading volume for the coin is $228,000, as the token ranks 734th on his CMC according to market cap. SENSO token market capitalization has exceeded $11 million.
On the 1-day chart, SENSO’s price has followed a descending channel since September 14th and made new lows. With the exception of Sept. 18, the larger trend was bearish when the coin’s price rose by double digits amid retail euphoria.
The $0.154 mark is acting as a strong support, but a break below it could lead to further selling in the market.
RSI Making a steep descent further shows how sellers dominated the SENSO market.
In the short term, retailer attention and high social volume may support SENSO’s price, with the next major resistance at the $0.18 mark. A further drop from a selloff fueled by macro market conditions could push the coin back to the $0.135 support level.
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